Home|Journals Follow on Twitter| Subscribe to List

Directory for Medical Articles
 

Open Access

23

Ekonomik Yaklasim. 2010; 21(75): 77-122


THE REFLECTIONS OF ECONOMIC CRISIS ON THE TURKISH ECONOMY AND THE FUTURE PROSPECTS

Aziz KONUKMAN, Rahmi Aşkın TÜRELİ.

Abstract
In order to properly analyze the economic effects of the global crisis on Turkey, it is necessary to touch on the nature and the salient features of the economic structure of the Turkish economy, that had already been facing some serious problems prior to the economic crisis. Problems, which however, have been largely disguised by IMF supported policies that were being implemented in an environment of high global-liquidity. Export/import and growth data indicate as is also true with other countries except PRC, in Turkey too that, the rapid contraction following September 2008 stemmed from the severe declines in aggregate demand in domestic and export markets. Since contractions --albeit at a much lesser rate-- are forecast for 2009 in Turkey’s main export-markets, it is reasonable to attempt to trigger an upturn by increasing government expenditures and in particular social-overhead investments on the one hand and by stimulating consumption expenditures on the other. Though this will inevitably result in increases in the public deficit, the domestic debt service ratio and so is likely to jack-up inflationary expectations and/or the nominal interest rates, such undesirable consequences can be effectively addressed in the medium/long run by designing auspicious development and industrialization strategies and by implementing the policies these would call-for.

Key words: Economic Crisis, Industrialization, Technology, Macroeconomic Policy, Industrial Policy, Turkish Economy



Share this Article


Advertisement
Journal of Complementary Medicine Research

SUBMIT YOUR ARTICLE NOW


ScopeMed Home
Follow ScopeMed on Twitter
BiblioCAM
Article Tools
eJPort Journal Hosting
About ScopeMed
License Information
Terms & Conditions
Privacy Policy
Suggest a Journal
Publisher Login
Contact Us

The articles in Scopemed are open access articles licensed under the terms of the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (https://creativecommons.org/licenses/by-nc-sa/4.0/) which permits unrestricted, non-commercial use, distribution and reproduction in any medium, provided the work is properly cited.
ScopeMed is a Database Service for Scientific Publications. Copyright © ScopeMed® Information Services.
Scopemed Buttons